(Yicai Global) Nov. 17 -- Chinese textile firm Anhui Anli Material Technology’s stock price surged over 4 percent today, defying a general downward trend in the markets, on the news that it will supply synthetic leather to the US’ Columbia Sportswear, one of the world’s most popular outdoor clothing brands.

Anli Material’s stock price [SHE:300218] closed up 1.96 percent to CNY12.46 (USD1.90) apiece today. It earlier reached CNY12.78. By contrast, the ChiNext Price Index, which tracks growth enterprises in Shenzhen and on which it is listed, closed down 2 percent.

Anli Material and its Vietnam subsidiary have passed Columbia’s strict examinations and have been selected as suppliers of functional synthetic leather composite materials for the Oregon-based brand’s shoes and outdoor sports equipment, the company said yesterday.

The deal will help increase Anli Material’s market share and raise its global profile, the firm said, adding that the purchase amount this year will not have much of an impact on its 2020 performance.

Anli Material already supplies synthetic leather to French sports brand Decathlon. The Hefei, Anhui province-based firm produces 70,000 tons of polyurethane resin and 88.5 million square meters functional polyurethane synthetic leather a year.

Editor: Kim Taylor